Closed

1214 South Lake Street

$3,900,000

Property Details

Year Built: 1914
Units: 36
Price / Unit: $108,333
Price / SqFt: $190.62
CAP: 4.34%
GRM: 11.78

Executive Summary

  • Value-Add Opportunity Through Renovations of Individual Units and Unused Basement Common Area for Storage and On-Site Laundry Facilities
  • Significant Rental Upside of Over Thirty Percent (30%)
  • Pico-Union Rated One of Business Week’s Top Ten Neighborhoods in the Country for Real Estate
  • Contributing Feature of the Pico-Union Historical Preservation Overlay Zone (HPOZ)
  • Features New Roof Installed with Permits (December 2011) and Copper Plumbing Throughout
  • Potentially Qualifies for Mills Act Historical Property Contract Program
  • Separately Metered for Gas and Electric – (Thirty-Seven Gas Meters, 40 Electric Meters)
  • Fire Protection Equipment Recently Passed Regulation No. 4 Testing – June 2016

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